In recent months, I see that there is an increasing talk about the launching of Emret micro-finance institution building in Phnom Penh saying that micro-finance institutions are now growing and competitive. Will this picture give benefits for the poor, the private sector and the economic development?

People now have a lot of money because they get benefits from stable economy and political stability. People know more about financial sectors and have confidence in banking. They save money in the bank rather than at home. They go to bank to borrow money for business purposes. Unlike before, they go to the bank just to borrow money for medical/health check. The attitude of people has changed toward the banking system in Cambodia.

One more thing is that people before save money in banks outside country. Some Cambodian investors thus have to borrow money from bank abroad. This makes loss to the country economy. Now, this has been changed so much. We have bank within the country, people can save or borrow money through banks in Cambodia. Those who want to invest or expand their business can go the banks in Cambodia and make loans.

However, I do not see many banks have been operated at rural areas. It grows at Phnom Penh and some provincial towns. This makes barriers for rural people to access to credit and saving. Today, I see some banks have operated in districts and this will be a good tendency to have bank services available at rural areas.

In general and in short, I am really optimistic to see such development which gained from government’s efforts through its regulations, economic growth, macro-economic stability and political stability. With this in mind, I do hope that business opportunities will be increased in next few years.